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Shares of GrubHub Inc. are down 2.1% in premarket trading Monday after analysts at Stifel downgraded the stock to hold from buy. The analysts, led by John Egbert, continue to like GrubHub's business and think that it will continue to build momentum as it signs on more chain restaurants. Egbert sees the company's recent partnership with Yum Brands as a "vote of confidence" that could prompt other notable chains to start listing on GrubHub's platform. However, he's concerned about the stock's valuation, with shares up 54% so far this year, compared with a 3% gain for the S&P 500 in that time. Shares are up 222% over the past 12 months and trade at 32 times 2019 estimates on the basis of enterprise value to earnings before interest, taxes, depreciation, and amortization, according to Egbert. That's "elevated relative to historical multiple ranges even when the company was growing much faster on an organic basis," he wrote, while raising his price target to $110, roughly the level of GrubHub's stock at Friday's close.

Shares of GrubHub Inc. are up 0.6% in Tuesday morning trading after analysts at Guggenheim raised their price target on the stock to $140, the highest target among analysts tracked by FactSet. Guggenheim's previous target was $94. "In our opinion, GrubHub is creating a virtuous cycle of restaurant providers based on their expanding diner base, which chooses GrubHub for their broad restaurant selection comprised of self-delivering restaurants, the pickup option or last mile logistical services," wrote the analysts, led by Matthew DiFrisco. "Importantly, GrubHub's business model is built for all three transaction types to be economically equivalent." The analysts are also upbeat on GrubHub's partnership with Yum Brands , which will add KFC and Taco Bell locations to GrubHub's network. Shards of the food-delivery company are up 225% over the past 12 months, while the S&P 500 has gained 18%.

Yum Brands Inc. chain Pizza Hut announced Wednesday that it is the official sponsor of the NFL. Papa John's International Inc. said late Tuesday that it is ending its NFL sponsorship, shifting to sponsorship of 22 individual teams. In a joint statement, Papa John's and the NFL said the decision was mutual. Papa John's founder and former Chief Executive John Schnatter caused controversy in November when he said player protests were to blame for the company's poor sales. Pizza Hut's new sponsorship will begin with the 2018 NFL Draft, which will be held near the brand's headquarters in North Dallas. Pizza Hut has more than 7,500 restaurants in the U.S. Yum Brands shares are down 1.1% for the last three months, but up 22.8% for the last year. The S&P 500 index is up 16.1% for the past 12 months.

Chipotle Mexican Grill Inc. named Taco Bell Chief Executive Brian Niccol as its new CEO on Tuesday, and shares jumped more than 10%. Chipotle chose Niccol to replace founder Steve Ells, who said in November that he would step down from the CEO role and become executive chairman. "At Chipotle's core is delicious food, which I will look to pair up with consistently great customer experiences," Niccol said in Tuesday's announcement. "I will also focus on dialing up Chipotle's cultural relevance through innovation in menu and digital communications." Niccol had worked for Yum Brands Inc.'s Taco Bell since 2011, and was an executive at Pizza Hut Inc. before that. Chipotle has struggled to rebound from an e.coli scare at some of its restaurants, with shares down more than 39% in the past year as the S&P 500 index has gained 14.1%. Shares topped $280 in late trading following the announcement, after closing at $251.33.

GrubHub Inc. shares are up 2% in premarket trading Friday after a judge ruled that a driver for the company was an independent contractor, not an employee. U.S. Magistrate Judge Jacqueline Scott Corley said that GrubHub didn't have "all necessary control" over a driver's work so it was therefore justified in deeming the driver a contractor. "This ruling is the first-of-its kind on the issue at the Federal level, and is notable because California has the strictest standards for contract labor," Mizuho analyst Jeremy Scott wrote. Should GrubHub have to treat drivers as employees rather than independent contractors, Scott estimates that the average cost per order delivered would increase by 50% to 60%. GrubHub shares jumped 27% Thursday after the company reported better-than-expected revenue for its most recent quarter and announced a new partnership with Yum Brands Inc. . GrubHub's stock has soared 133% over the past 12 months, while the S&P 500 Index has gained 12%.

Shares of GrubHub Inc. shot up more than 25% in premarket trade Thursday, after the company announced a partnership with Yum Brands Inc. , under which Yum will acquire $200 million in GrubHub shares. The deal is aimed at driving online sales and delivery to Yum's restaurants, including KFC and Taco Bell. "This will be an exclusive partnership, and according to the release, GrubHub will be integrated into the POS," said Mizuho analysts. "This is a major win for GrubHub as it will likely be accompanied by a joint marketing campaign during the roll-out phase." Stifel analysts agreed that the deal is a big win for GrubHub "and potentially a hit to its competitors in restaurant delivery." Shares of GrubHub have gained 75% in the last 12 months, while the S&P 500 has gained 17%.

Yum Brands Inc. brands shares jumped 4.8% in Thursday premarket trading after the fast-food company reported fourth-quarter earnings that beat consensus. Yum Brands' portfolio includes the Taco Bell, Pizza Hut and KFC chains. Net income for the quarter totaled $436.0 million, or $1.26 per share, up from $303.0 million, or 83 cents per share, for the same period last year. Earnings excluding special items was 96 cents per share. Revenue totaled $1.58 billion, down from $1.89 billion last year. The FactSet consensus was for EPS of 80 cents and sales of $1.59 billion. Global same-store sales rose 2%, with a 3% jump at KFC, 1% rise at Pizza Hut, and 2% growth at Taco Bell. Yum also announced a partnership with GrubHub Inc. early Thursday. Yum shares are down 1.2% for the last three months, but up 20.3% for the past 12 months. The S&P 500 index is up nearly 17% for the last year.

Yum Brands Inc. and Grubhub Inc. said Thursday they have entered a partnership in the U.S. aimed at driving online sales and delivery to Yum's restaurants, including KFC and Taco Bell. As part of the deal, Yum will buy $200 million of Grubhub stock, to provide the company with the liquidity needed to accelerate expansion of its delivery network. Artie Starrs, U.S. President of Pizza Hut, will join the Grubhub board as an independent director. "We are committed to making our iconic brands easier to access through online ordering for pickup and delivery, and aggressively pursuing delivery as a strategic global growth opportunity, with nearly half of our 45,000 restaurants already offering it today," Yum Chief Executive Greg Creed said in a statement. Yum shares were up 5% in premarket trade as the two companies also announced earnings. Grubhub shares were not yet active.

Shares of GrubHub Inc. gained 0.4% in premarket trading after the company reported better-than-expected revenue and announced a partnership with Yum Brands Inc , while earnings missed expectations. Net income rose to $53.5 million for the fourth quarter from $13.6 million a year ago, while earnings per share increased to 60 cents from 16 cents. On an adjusted basis, GrubHub reported net income of $33.3 million or 37 cents a share, up from $19.8 million and 23 cents per share, respectively. Those adjusted metrics came up short of analysts expectations for net income of $27.6 million and per-share earnings of 31 cents, according to FactSet. Revenue of $205.1 million for the quarter rose $137.5 million and came in ahead of estimates for $201.7 million. Active diners totaled 14.5 million, up from 8.2 million a year earlier. The company expects revenue for the first quarter to be between $224 million and $232 million; analysts had been expecting $226.7 million. "Over the past two years we have taken incredible strides in expanding the breadth and depth of our restaurant network, growing the number of local restaurants we work with from 40,000 to over 80,000 today," CEO Matt Maloney said in a release. "The partnership with Yum! which we announced this morning will accelerate the expansion of our delivery network and amplify our diner acquisition efforts, raising consumer awareness of online ordering and driving more volume for all restaurants across our platform." GrubHub also has a partnership with Yelp Inc. Shares of the food-delivery platform are up 75% over the past 12 months, while the S&P 500 Index has gained 17%.

Yum Brands Inc. brands shares jumped 4.8% in Thursday premarket trading after the fast-food company reported fourth-quarter earnings and sales that beat consensus. Yum Brands' portfolio includes the Taco Bell, Pizza Hut and KFC chains. Net income for the quarter totaled $436.0 million, or $1.26 per share, up from $303.0 million, or 83 cents per share, for the same period last year. Earnings excluding special items was 96 cents per share. Revenue totaled $1.58 billion, down from $1.89 billion last year. The FactSet consensus was for EPS of 80 cents and sales of $1.59 billion. Global same-store sales rose 2%, with a 3% jump at KFC, 1% rise at Pizza Hut, and 2% growth at Taco Bell. Yum also announced a partnership with GrubHub Inc. early Thursday. Yum shares are down 1.2% for the last three months, but up 20.3% for the past 12 months. The S&P 500 index is up nearly 17% for the last year.

Grubhub and its rivals say they need to get bigger to cut delivery fees that are sometimes higher than the price of a burger and fries. That is partly the goal of the expanded partnership that Grubhub and Yelp plan to announce on Monday.

There is a long history of fast food copycat restaurants, but the only ones that last are in countries where trademark protection is hard to enforce. Time is therefore probably short for Fernando's, a UK restaurant with a name, menu and logo remarkably similar to Nando's, an international chicken chain.

Yum Brands is buying a 3% stake in food-delivery service GrubHub for $200 million, making it one of the first fast-food companies to directly invest in a food-delivery service as it maneuvers the world of online food sales.

The combination of privately held Arby’s and Buffalo Wild Wings Inc., known as Inspire Brands Inc., aims to acquire more chains to mitigate the threat of consumers losing their appetite for any one type of restaurant concept or cuisine.

Grubhub and its rivals say they need to get bigger to cut delivery fees that are sometimes higher than the price of a burger and fries. That is partly the goal of the expanded partnership that Grubhub and Yelp plan to announce on Monday.

Yum! Brands Inc.

Yum! Brands, Inc. is a quick service restaurant company, which engages in the development, operation, franchise, and licenses a system of restaurants. It operates through the following segments: YUM China, YUM India, KFC Division, Pizza Hut Division and Taco Bell Division. The YUM China which includes all operations in mainland China. The YUM India which includes all operations in India, Bangladesh, Nepal and Sri Lanka. The KFC Division which includes all operations of the KFC concept to outside of China Division and India Division. The Pizza Hut Division which includes all operations of the Pizza Hut concept outside of China Division and India Division. The Taco Bell Division which includes all operations of the Taco Bell concept outside of India Division. The company was founded in 1997 and is headquartered in Louisville, KY.
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